Bulls Look To S&P, Dow
The bulls, of which I am one in the
short term, are pinning their hopes on the idea that support
will be found imminently. In the S&P and Dow, the
two support levels I am focusing on are yesterdayGÇÖs low (the
August 5 low), and the low from the day after the huge rally
day, July 25.
Give Me Something to Lean On: Understanding The Purpose Of Chart Patterns
Let Dan Chesler show you how to trade his “stoch-trap” setup, as well as his “incipient trend pattern.”
Chart Review
Rather than getting into a discussion of where we sit within the
bigger-picture market cycle, and how last weekGÇÖs action
reflects a typical climax low that is now in the process of
being re-tested, IGÇÖm going to focus on a few ETF and
commodity charts that have caught my attention.
Waiting To Retest
Daytraders are currently
faced with excellent two-way trading due to increased
volatility. Coming into todayGÇÖs session we had numerous
stoch-trap short signals; selling a break below the first
hourGÇÖs low in the SPY and DIA for a scalp has worked very
nicely so far. Position traders still want to be on the look
out for low-risk entries from the
A Tale Of Three(?) Bottoms
Since we know that the majority is usually wrong at turns, we use these
indicators to measure mass emotional extremes. Have we
witnessed THE bottom? I doubt it. However, in the
meantime, there are plenty of reasons to feel good about the
way the market is acting, and to believe
A Decent Week
On both Thursday and Friday, the market managed to claw its way back from
late-afternoon weakness that could have otherwise turned into a full-fledged
resumption of the downtrend
I’ll Be Back
While yesterdayGÇÖs action goes a long way towards establishing a
sturdy, cyclical low, the chances of another scary retest are still very real,
in my opinion
Long Time
ItGÇÖs been a REALLY LONG TIME since the market rallied. So LONG, in fact, that I believe itGÇÖs probably safe to GO LONG following yesterdayGÇÖs climactic selling. But pick your spots carefully.-á-á-á
Using Moving Averages And Patterns To Enter Into Fast Moves
In this lesson I will show you how I translate the basic principle of trend into a
simple moving average and bar pattern combination, which I call the ITP.
Barely Hanging On
The best
trading markets lately GÇ” by far GÇ” have been the futures markets. Volatility in
coffee, soybeans, gold and the euro currency has been fantastic. I am
long-term bullish on commodities as some of you know from my previous columns,
especially grains and
Relative Strength Review
The current jump in Nasdaq 100 strength relative to the S&P 500 is similar to the jump we saw at the bottom in September/October of last year. WeGÇÖll have to wait
and see whether the general market responds to this normally leading
indication, or whether the force of the bear trend is so great that the pick
Holy Volatility!
What a day yesterday. I havenGÇÖt seen volatility like this in a long time. Sweat beads still fresh on my forehead.